MFs fear inflows could fall by 50% if market mayhem continues

Market sentiment took a beating in line with sharp losses at other Asian markets after a record-breaking loss on Wall Street after investors fret over rising U.S. borrowing costs, brokers said.

The 30-share Sensex was trading lower by 342.12 points, or 0.98 per cent, at 34,724.63 at 1110 hrs. Here is how it all started.

The BSE index opened with a loss of 344.60 points on 34,718.85 and extended it losses hitting the intra-day low of 34,520, within initial 10 minutes of trading. "If this kind of market fall continues then the inflows may fall by half", said a senior equity fund manager from a private fund house on condition of anonymity.

BSE Sensex closes at 342 points that is 0.96% higher; the final closure was at 36,140 points. Tata Motors Ltd cracked almost 10% after it reported lower-than-expected earnings due to weak performance by Jaguar Land Rover (JLR).

29 women held in Iran for protesting against hijab
A prominent human rights lawyer told AFP on Tuesday that one of the women detained had her bail set at more than $100,000. Social media has been flooded with the images and videos of the demonstration.

Investors also seemed cautious ahead of the RBI policy meet as they feel that repo rate might be increased amid inflation concerns, brokers said. Along with the broader 50-share NSE Nifty, it was losing more than a per cent. We aren't living in an island so there will be a ripple effect of what is happening in the world on Indian stock markets.

The heavy profit booking comes after months of surges fuelled by corporate earnings, global outlook and optimism over the U.S. economy.

The benchmark S&P 500 slumped 4.1 percent and the Dow 4.6 percent, suffering their biggest percentage drops since August 2011 as a long-awaited pullback from record highs deepened. Australian shares dropped 3.0 percent to their lowest since October while South Korean shares fell 3.0 percent.

Share this:

Hot News

The Flu: What To Do If You Get SickFeb 06, 2018 - 15:06
Flu viruses are spread mainly from person to person through droplets made when people with flu cough, sneeze or event talk. Children are also to be kept a close eye on, as they are similarly susceptible to the virus.

Malcolm Butler: Patriots 'gave up on me' in Super BowlFeb 06, 2018 - 15:04
It will go down as one of his most controversial personnel moves as Patriots head coach, certainly one of his most surprising. The Patriots and Eagles had two of the best defenses in the league throughout the regular season and postseason.

Paul Ryan slammed over tweet praising tax cut for $1.50 pay riseFeb 05, 2018 - 06:33
The tax bill cost almost $1.5 trillion dollars, while the teacher in question is only seeing $1.50 extra in her weekly paycheck. It cited as one example Julia Ketchum of Lancaster, Pennsylvania, whose wages went up $1.50 a week, or $78 per year.

Nintendo Will Continue Supporting 3DS Alongside The SwitchFeb 05, 2018 - 06:33
REUTERS/Kim Kyung-HoonAn event guest plays with the Nintendo Switch in Tokyo, Japan during its announcement on January 13, 2017. The head of Nintendo has said he wants to support the Switch for much longer than the usual five or six-year console life.

South Africa: Nearly 1000 trapped miners rescuedFeb 05, 2018 - 06:32
This goes to demonstrate the attitude of management towards safety, said Mr Sahlulele Luzipo, Chairperson of the Committee. In a statement, the union calls on Sibanye-Stillwater to mobilise all resources to rescue the workers as soon as possible.

Israel to legalize slain rabbi's West Bank outpostFeb 05, 2018 - 06:29
Since then at least 20 Palestinians and one Israeli have been killed. He is the seventh Palestinian to be killed by Israel this year. This is the essence of the government's policy", he said.

US stocks dive on rate hike worriesFeb 05, 2018 - 06:28
Federal Reserve , have started to remove some of the supports that helped supercharge stock and bond prices over the last decade. All 30 of the Dow's component stocks fell, with energy, technology and financial shares posting some of the heaviest declines.

Trump Asked Rosenstein Whether He Was On His 'Team'Feb 04, 2018 - 02:21
Those criticisms have prompted speculation that Trump was looking for reasons to fire Rosenstein . The president has repeatedly attacked his own Justice Department throughout his administration.

Office 2019 Won't Support Older Versions of WindowsFeb 03, 2018 - 11:32
Since the arrival of Windows 10, Microsoft has taken a "Windows as a service" approach to delivering operating system updates. According to this Microsoft support article (via The Verge ), Office 2019 will only run on PCs with Windows 10.

Apple, Amazon, Alphabet, Biomerica - AFTER HOURSFeb 03, 2018 - 11:32
In an investor call, Zuck brushed this off as a short-term loss in the quest for more "meaningful interactions" in the long term. The firm also pointed to a new Tax Act in the United States , which it says caused a one-time $9.9bn expense during the quarter.

Australia lose U-19 CWC final to IndiaFeb 03, 2018 - 11:31
Abhishek is also a hard-hitting lower middle order batsman, who can score some quick runs at the end of the innings. Skipper Sangha will hope his boys would put their foot on peddle when facing India and cross the final hurdle.

Six Nations: France v IrelandFeb 03, 2018 - 11:30
The pressure on the Irish after losing in Round One was too great, and they succumbed to Wales in Round Four. Perhaps more importantly though are the key, established combinations that Schmidt can name.